Question : Which of the following is NOT included in the calculation of GDP?
Option 1: Intermediate goods
Option 2: Final goods
Option 3: Value of exports
Option 4: Value of imports
Answer (1)
21st Jan, 2024
Correct Answer: Value of imports
Solution : The correct answer is (d) Value of imports.
However, the value of imports is not included in the calculation of GDP. Imports represent goods and services produced in other countries and purchased by the domestic economy. GDP measures the production that occurs within a country's borders, so imports are not counted in order to avoid double-counting.
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